Guest post: Sebastian Mallaby responds to Ben Bernanke

In this guest post, Sebastian Mallaby discusses how his research into Alan Greenspan’s life and career informed his belief that central banks should consider financial stability at least as important as price stability.
Continue reading: Guest post: Se…

In this guest post, Sebastian Mallaby discusses how his research into Alan Greenspan's life and career informed his belief that central banks should consider financial stability at least as important as price stability.

Continue reading: Guest post: Sebastian Mallaby responds to Ben Bernanke

Don’t clean — lean!

One of the reasons it’s fun to write about monetary policy is the lack of consensus. Within the field, no subject is as stimulating — or important — as the debate over how central bankers should think about the risks of financial excess.

Continue reading: Don’t clean — lean!

One of the reasons it's fun to write about monetary policy is the lack of consensus. Within the field, no subject is as stimulating -- or important -- as the debate over how central bankers should think about the risks of financial excess.

Continue reading: Don’t clean — lean!

Koo: Why US Quantitative Easing “worked” better than other QEs

This is a guest post from Richard Koo, chief economist of the Nomura Research Institute and, amongst many other things, author of “The Holy Grail of Macroeconomics, Lessons from Japan’s Great Recession”, which lays out his balance sheet recession thesis in detail.

The post is an updated extract from his most recent note for Nomura and reproduced here, with his permission, for your arguing pleasure…

The US, the UK, Japan, and Europe all implemented quantitative easing (QE) policies, but the understanding of how those policies work apparently differs greatly from country to country, leading to very different outcomes. With the US economy doing better than the rest, there has been some debate in Europe as to why that is the case.

Continue reading: Koo: Why US Quantitative Easing “worked” better than other QEs

This is a guest post from Richard Koo, chief economist of the Nomura Research Institute and, amongst many other things, author of “The Holy Grail of Macroeconomics, Lessons from Japan’s Great Recession”, which lays out his balance sheet recession thesis in detail.

The post is an updated extract from his most recent note for Nomura and reproduced here, with his permission, for your arguing pleasure…

The US, the UK, Japan, and Europe all implemented quantitative easing (QE) policies, but the understanding of how those policies work apparently differs greatly from country to country, leading to very different outcomes. With the US economy doing better than the rest, there has been some debate in Europe as to why that is the case.

Continue reading: Koo: Why US Quantitative Easing “worked” better than other QEs